Form 4: Illumina Reports Changes in Beneficial Ownership of GRAIL, Inc. Following Corporate Conversion and Stock Distribution

Illumina, Inc. reports a change in its beneficial ownership of GRAIL, Inc. due to GRAIL's conversion to a corporation and the pro rata distribution of GRAIL shares to Illumina's stockholders.

Summary

• Illumina, Inc. filed a Form 4 on June 24, 2024, reporting changes in its beneficial ownership of GRAIL, Inc.
• On June 3, 2024, Illumina reported owning 100% of GRAIL, LLC's membership interests.
• On June 21, 2024, GRAIL, LLC converted from a limited liability company to a corporation named GRAIL, Inc.
• The outstanding limited liability company interests of GRAIL, LLC were converted into 31,049,147 shares of GRAIL, Inc. common stock.
• Illumina distributed 26,547,021 shares of GRAIL, Inc. common stock to its shareholders on June 24, 2024.
• The record date for the pro rata distribution was June 13, 2024.
• Following the distribution, Illumina directly owns 4,502,126 shares of GRAIL, Inc.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a corporate action. It doesn't convey strong positive or negative sentiment.

Future Outlook

The document does not contain specific forward-looking statements regarding GRAIL, Inc.'s or Illumina's future performance.

Industry Context

This announcement reflects the ongoing corporate restructuring and ownership adjustments following Illumina's acquisition of GRAIL. The distribution of GRAIL shares to Illumina shareholders is likely part of a strategy to address regulatory concerns and potentially separate the two entities.

Stakeholder Impact

• Illumina shareholders received shares of GRAIL, Inc.
• GRAIL, Inc. became a publicly traded company.

Key Dates